Tax deductible home loans, what next!? Just how much of the $122,230 in interest a $300k mortgage accrues over a five year term does Bananaby believe the government will be prepared to forego in tax against PAYG incomes? How does he think the current taxation systems will cope with something like that? Let’s see…….a tax deduction on $122k for a first home buyer. Were I that first home buyer, I’d be buying one in my name, one in the wife’s name and one for each of my siblings, second cousins and even the remotest rellies.
Good on yer, Bananaby. Always good for a chuckle.